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to be speaking for this bill but i can't. >> reporter: 151 republicans including eric cantor the number two ranging house member voted against the bill because it doesn't address spending. >> what we're really doing is raising taxes to give the president more money to spend. >> reporter: president obama has promised to work with congress to find more spending cuts in the future. but he urged them not to play politics with the nation's debt limit. >> i will not have another debate with this congress over whether or not they should pay the bills that they have already racked up. >> reporter: treasury secretary timothy geithner has warned congress the country is just a few months away from defaulting on its loans for the first time in u.s. history. >> the consequences for the entire global economy would be catastrophic, far worse than the impact of a "fiscal cliff." >> reporter: but many republican congressmen say the debt limit debate is the last chance for them to secure the deep spending cuts necessary to pay down our nation's debt. tara mergener for cbs news, washington. >>> after his addr
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